Mortgage Simplicity Ltd is an appointed representative of Julian Harris Mortgages Limited, Julian Harris House, Musgrove, Ashford, Kent, TN23 7UN, which is authorised and regulated by the Financial Conduct Authority.
Cooperage Way Business Village Cooperage Way Alloa
FK10 3LP
United Kingdom
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Trusts

Benefits of writing your Insurance policy into a trust

Having your Life Assurance policy written in trust is one of the most important steps you should take when setting up your Life Insurance but is often forgotten.insurance policy into trust

The benefits are huge and so are potential pitfalls from not writting in trust.

Normally when a life assurance claim is made, the sum assured will be paid into the plan owners estate. Once the money reaches the estate it may be subject to Inheritance Tax and to the time it takes for probate to organise and redistribute the deceased’s property.

Probate can take many months, and thus the proceeds from the life assurance policy cannot be passed on to the beneficiaries until the process has completed.

By having your policy written in trust, the payout from the Life Insurance is prevented from entering the estate and is instead paid immediately to whoever you nominate.

As a result the cash would be paid out much faster and may not be subject to inheritance tax.

When we recommend a life assurance policy to you, we will also advise whether or not you should place the policy in trust, and where appropriate will arrange for the plan to be placed in a suitable trust

The arrangement of trusts is not regulated by the Financial Conduct Authority

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Important

Mortgage Simplicity Ltd is an appointed representative of Julian Harris Mortgages Limited, Julian Harris House, Musgrove, Ashford, Kent, TN23 7UN, which is authorised and regulated by the Financial Conduct Authority.

Julian Harris Mortgages Limited FCA Register number is 304155.

UK Financial Services

The guidance and/or advice contained in this website is subject to UK regulatory regime and is therefore restricted to consumers based in the UK The Financial Ombudsman Service (FOS) is an agency for arbitrating on unresolved complaints between regulated firms and their clients. Full details of the FOS can be found on its website at www.financial-ombudsman.org.uk

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Mortgage Simplicity Ltd
The E-Centre
Cooperage Way Business Village
Cooperage Way
Alloa
FK10 3LP

Tel: 0845 838 1502 / 03330 113157
Email:info@mortgagesimplicity.co.uk